21st Austria weekly - Uniqa, Kapsch TrafficCom, FACC (18/11/2020)

Uniqa: The Management Board and Supervisory Board at Uniqa Insurance Group AG decided on a strategic programme covering the next few years, under the name Uniqa 3.0. The programme will focus more intensively on customers, and make internal processes simpler, more efficient and more cost-effective. This will be accompanied by cutbacks in the workforce. A total of around 600 salaried employees of the Uniqa Group will be leaving the company by the end of 2022. Staff reductions will be achieved wherever possible through natural attrition and contract terminations agreed through mutual consent. A severance scheme has been put in place. The planned measures mean that expenses for restructuring measures will be incurred in the consolidated financial statements of up to approximately Euro 110 mn for the 2020 financial year. These restructuring measures will result in future targeted savings of up to around Euro 50 mn each year. The resolution on the Uniqa 3.0 strategic programme also involves a review of our medium-term planning and, subject to significant adjustments to the capital cost parameters, will trigger goodwill impairments of approximately Euro 100 mn for the 2020 financial year in Serbia, Bulgaria and Romania.
Uniqa: weekly performance: 12.75%

FACC: FACC AG, leading aerospace company in design, development and production of aerospace technologies and advanced aircraft lightweight systems recorded revenues in the first nine months of 2020 of Euro 392.8 mn. The decline of 32.6% compared to the same period of the previous year (Euro 582.6 mn) is attributable to the reduction in built rates in all aircraft programs of major importance to FACC. Reported earnings before interest and taxes (EBIT) for the first nine months of 2020 stood at Euro -57.5 mn (comparative period in 2019: Euro 9.7 mn). "Although the markets are still highly volatile, we are currently planning annual sales of between Euro 500 and 520 mn. In terms of earnings, we are still expecting EBIT in a range of Euro -55 to -65 mn," says CEO Robert Machtlinger. FACC is consistently investing in the future, even in a completely new market environment. "Research and development, innovation and reliability are key elements of our past and our future," emphasizes Machtlinger. "On the one hand, we are paying special attention to the topics of efficiency and sustainability, both at our FACC plants and with regard to our lightweight systems, which enable more efficient flying while reducing CO2 emissions. In addition, we wish to drive forward the new area of Urban Air Mobility with innovative solutions and to make further progress in the space environment.”
FACC: weekly performance: 23.40%

Kapsch TrafficCom: In the first half of the current financial year, revenues of Kapsch TrafficCom, provider of intelligent transportation systems, reached Euro 257 mn (-28%). A major reason for the reduction in revenues is, that some major toll projects ended which contributed Euro 64 mn in the first half of 2019/20. These projects comprise the early terminated toll projects in Germany, the expired contract of the nation-wide toll system in the Czech Republic and the concluded implementation of the toll system in Bulgaria. The loss of these high-revenue projects could not be compensated by new business in the first half of the current financial year. The delays of tenders and contract awards due to COVID-19 play a major part in this. The earnings before interest and taxes (EBIT) were negative at Euro -58 million (previous year: Euro 9 mn). The EBIT margin was thus -22% (previous year: 2%).“It pains me to see the company I built with my team, practically from the ground up, in this state after continuous upward development over the past 20 years. What is clear is how important it was to start up a program, before the summer, to both define short-term cost reduction measures and create a basis for sustainable growth,“, says Georg Kapsch, CEO of Kapsch TrafficCom.
Kapsch TrafficCom: weekly performance: -2.35%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (18/11/2020)

Christian Drastil: Wiener Börse Plausch

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1. Nina Burger Vienna Uniqa

Aktien auf dem Radar:Immofinanz, Addiko Bank, Wienerberger, Flughafen Wien, S Immo, DO&CO, EVN, Erste Group, Semperit, Pierer Mobility, UBM, Cleen Energy, Frequentis, Gurktaler AG Stamm, Mayr-Melnhof, RBI, Warimpex, Zumtobel, SW Umwelttechnik, Oberbank AG Stamm, Agrana, Amag, CA Immo, Kapsch TrafficCom, OMV, Österreichische Post, Strabag, Telekom Austria, Uniqa, VIG.

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